US-based health and wellness companies Hooper Holmes Inc. (NYSE: HH) and Provant Health Solutions LLC have closed their all-stock merger, the companies said. On a combined basis, 2016 pro-forma annual revenue of the merged company is approximately USD 67m, excluding USD 3.8m of pass-through gift card revenue at Provant. The two companies said they have no customer overlap and both target growing healthcare market segments. Synergies from leveraging fixed costs and optimizing services and processes are expected to significantly reduce the merged company's cost structure, supporting a more efficient organisation. The merger is expected to be accretive to adjusted EBITDA in full year 2017.